Guideline Value for Sri Ganapathy Nagar

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Polambakkam village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Sri Ganapathy Nagar has changed

The guideline value for Sri Ganapathy Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 50 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, there was a decline to Rs 47 per sq.ft in 2017. The value rose significantly to Rs 100 per sq.ft in 2023, and currently stands at Rs 103 per sq.ft in the 2024 revision, reflecting a 3% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 106%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Polambakkam

In Polambakkam, there are 14 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Sri Ganapathy Nagar is below this median.

• Sri Jaya Avenue: Rs 275 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 275 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -I: Rs 100 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -II: Rs 100 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 103 per sq.ft, the guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, while the registration fee at 2% would be Rs 2,060, totaling Rs 9,270. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Ganapathy Nagar?

Sri Ganapathy Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Polambakkam

The guideline value is a crucial factor in property transactions in Polambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 103 per sq.ft in 2024, reflecting an overall increase of 106% over the period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210 and the registration fee would be Rs 2,060, totaling Rs 9,270.

Which office handles property registrations in Sri Ganapathy Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Sri Ganapathy Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

What is the land classification of Sri Ganapathy Nagar?

Sri Ganapathy Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.